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Module 2 of Big Data Analytics

This document discusses various applications of big data analytics across different industries and sectors. It outlines how big data is used in marketing and sales for tasks like customer relationship building and campaign optimization. In finance, big data supports fraud detection, risk analysis, and algorithmic trading. For human resources, big data helps with retention, training, and engagement. Healthcare uses big data for solutions development, fighting cancer, and monitoring patients. Product design leverages big data for viability testing, decision making, measuring progress, and gaining user insights. Service design, customer service, supply chain management, and government operations also benefit from big data analytics.

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Naveen
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148 views4 pages

Module 2 of Big Data Analytics

This document discusses various applications of big data analytics across different industries and sectors. It outlines how big data is used in marketing and sales for tasks like customer relationship building and campaign optimization. In finance, big data supports fraud detection, risk analysis, and algorithmic trading. For human resources, big data helps with retention, training, and engagement. Healthcare uses big data for solutions development, fighting cancer, and monitoring patients. Product design leverages big data for viability testing, decision making, measuring progress, and gaining user insights. Service design, customer service, supply chain management, and government operations also benefit from big data analytics.

Uploaded by

Naveen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Module 2: Applications of big data analytics

INTRODUCTION DRIVERS OF BIG DATA ANALYTICS:

DRIVERS FOR BIG DATA ANALYTICS:

• Digital society:
• Reduced technology costs
• Cloud computing.
• Increased knowledge about data science.
• Social media applications
• Internet of things (IoT).

APPLICATIONS OF BIG DATA ANALYTICS IN MARKETING AND


SALES:

• Building better customer relationship


• Appropriate brand positioning.
• Optimizing pricing strategy
• Designing campaigns and advertisements.
• Better customer analytics
• Effective product improvement
• Sales process automation.

FINANCE ANALYTICS:

• Fraud detection and prevention


• Risk analysis and management
• Real-time analytics
• Consumer analytics
• Customer data management
• Providing personalized services
• Algorithmic trading.
HUMAN RESOURCE:

• Employee retention
• Enhancing training and development
• Streamlining Hiring
• Employee engagement.
• Forecast future.

HEALTH CARE PRODUCT DESIGN:

• Healthcare data solution.


• Bigdata to fight cancer
• Monitoring patient vitals
• Smoother hospital administration
• Healthcare intelligence
• Fraud prevention and detection.

PRODUCT DESIGN:

Product Viability: at this stage, data verifies the product concepts, helps
developers test and adjust to speed up the product design and launch process.

Informed product decision-making: information become more objective,


reliable, and faster.

Product progress measurement: product analytics can inform team members


about which features are working and which are not by creating a reliable road-
map that assesses the product at all stages.

User experience insights: data analytics are used to understand why consumers
are buying their product and how they are using it. Some businesses can take this
a step further to be able to find out why their consumers might opt for a
competitive product instead of theirs.
Product development inspiration: analytics can launch a new innovation or
help an existing product remain viable for an extended period of time, especially
with the rise of new competition leveraging the latest technologies.

SERVICE DESIGN:

• Discover needs and pain points.


• Create ideas
• Develop concept and solution
• Define business model
• Deliver solutions

CUSTOMER SERVICE & SUPPORT:

• Personalization
• Build customer loyalty
• Track customer behavior
• Data collection
• Customer retention
• Predictive analysis
• More convenient support

SCM:

• Inventory predictions
• Product Quality and Temperature control
• Order fulfillment and real-time tracking
• Machine maintenance.

GOVERNMENT OPERATIONS AND FUNCTIONS:

• Collecting taxes.
• Government health care systems
• Agricultural management
• Improvement in Transportation
• Education
• Poverty eradication
• Open government
• Cybersecurity - Anomalies and suspicious behavior are identified using big
data analytics. Cybercrime can be combated with the information that has
been gathered.
• Crime detection and prevention.
• Improved service delivery.

DIFFERENT INDUSTRIES AND SECTORS

• Sports
• Entertainment, communications and the media
• Retail and wholesale trade

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